Senvion has announced the reduction of an estimated 780 jobs, mainly at Senvion's facilities in Husum, Trampe and Bremerhaven in Germany as part of an “extensive program” to secure competiveness. The company will meet with employees' representatives as soon as possible to begin the negotiations.
In a press release distributed today Senvion says that the company has started an initiative to “identify excess costs across the entire company, opportunities to reduce overcapacity in production, and invest in research and development, new technologies as well as the quality of Senvion's products and services.” The program is part of the company's overall strategy that the management will detail when the company presents 2016 financial results. Senvion already announced plans during the IPO to boost operating results.
The program is aimed to put Senvion on a path of profitable growth in a difficult environment, while wind turbine makers are under strong price pressure and dealing with a shift in demand from established markets to growth regions in South America and Asia.
"We are setting the ground work for the successful future of the company," said Senvion CEO Jürgen Geissinger. "There is no alternative to decisive changes in order to secure the long term competitiveness of our company with 4,100 employees." Senvion in recent years has developed new products, improved processes, and made the required investments. Now we have to follow through on our strategy and pave the ground for future global growth."
"We have consistently highlighted efficiency improvements as one of the core focus points for a successful future. The announced changes are tough but a required step in that direction," adds Senvion CFO Manav Sharma.
Senvion has manufacturies for wind turbines in Husum (North Friesland), Trampe (Brandenburg) and Bremerhaven, as well as in Portugal. The systems are designed at the Senvion TechCenter in Osterrönfeld. The company has approximately 4,500 employees worldwide.
Buddensiek / Senvion